Philip Morris USA v. Williams, 127 S. Ct. 1057 (2007), is the latest in the Court's project to explain in what respects the United States Constitution limits punitive damages. While apparently modest, the ruling is a highly significant step in the Court's development of constitutional doctrine...

This pioneering volume uses modern statistical and simulation techniques to explain the process of wealth transmission and the persistent problem of the unequal distribution of wealth. These papers reflect a shift from the traditional cross-sectional measurement to an intertemporal focus by...